Wells Fargo & Company (NYSE:WFC) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 410,215 shares of the financial services provider’s stock after buying an additional 7,672 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Wells Fargo & Company were worth $23,173,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter valued at $26,000. Valued Wealth Advisors LLC lifted its holdings in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth about $47,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a report on Tuesday. Compass Point upped their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.82.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $64.38 on Friday. The stock has a market capitalization of $224.45 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. The business’s 50 day moving average is $56.27 and its two-hundred day moving average is $57.94. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $64.71. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.